Samsung Life to Launch US $ 33.6 Million Investment Fund
Samsung Life Insurance, South Korea’s largest life insurer, has partnered with state postal operator Korea Post to create a joint investment fund for overseas businesses.
The deal for the investment fund, worth an estimated KRW 400 billion (US $ 33.6 million or SG $ 45.8 million) is in its early stages, Yonhap News Agency reported. Samsung Life and Korea Post plan to invest in leading companies overseas over the next 10 years.
The two companies also plan to cooperate in various activities, such as diversifying their offshore investment portfolios, improving the profitability of their asset management activities, strengthening their risk management and joint development. of insurance products, said Samsung Life.
Earlier this year, Samsung Life invested US $ 1 million in Savills Investment Management, the fund management arm of global real estate firm Savills.
These measures are part of Samsung Life’s drive to diversify its investments, as part of a trend by insurers to make alternative investments globally to compensate for low returns from traditional investments in developed markets.
Samsung Life predicts that non-traditional assets will make up 15% of its investment mix by 2025. Non-traditional assets currently make up 10% of the company’s investment mix, according to a report by The Herald of Korea. These assets include real estate, private equity and hedge funds.